Philippine Peso

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The Philippine Peso is the currency of the Republic of the Philippines since 1949, replacing the Philippine Commonwealth peso. The name ‘peso’ is Spanish for ‘weight’ and ‘piece’, referring to the famous ‘piece of eight’ first struck as a silver coin in the 16th century with a value of 8 reales. Peso is a shortened form of Spanish ‘peso de a echo’, meaning ‘piece of eight’.